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World - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Jun 1, 2025

World - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights

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Dec 18, 2024

Oil Prices Stabilize Amid Anticipation of U.S. Fed Rate Cuts

Oil prices remained relatively stable early on Wednesday as investors stayed cautious ahead of the U.S. Federal Reserve's expected interest rate decision, reported by Reuters. Brent futures increased marginally by 12 cents, or 0.16%, to $73.31 a barrel, and U.S. West Texas Intermediate crude ticked up 11 cents, or 0.16%, to $70.19 a barrel.

This anticipated rate cut marks the third in the Fed's current policy easing cycle, with the oil market's focus also on potential interest rate changes projected for 2025. Priyanka Sachdeva, a senior market analyst at Phillip Nova, highlighted concerns over former President Trump's possible return to politics, which could influence inflation and the Federal Reserve's autonomy, thus prompting caution among oil investors.

According to IndexBox data, Saudi Arabia leads the world in crude oil export value with $206.7 billion in 2023, followed by Russia at $129.8 billion, United States at $117.8 billion, United Arab Emirates at $100.2 billion, and Canada at $99.6 billion. Meanwhile, China stands as the top crude oil importer with an import value of $337.3 billion in 2023, ahead of the United States, India, South Korea, and Japan.

Further complicating the oil market landscape, the European Union adopted a 15th package of sanctions against Russia for its actions in Ukraine, sanctioning 33 additional vessels allegedly part of Russia's shadow fleet used for crude transport. Similarly, the UK imposed sanctions on 20 ships involved in carrying illicit Russian oil. Despite these sanctions, Russia remains active in the global oil trade.

In the United States, American Petroleum Institute data revealed a fall in crude stocks by 4.69 million barrels during the week ending December 13, although gasoline and distillate stocks rose. The U.S. Energy Information Administration is set to release further oil storage data showing estimated withdrawals from U.S. crude reserves.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global crude oil market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

    + the largest producing countries

    Data coverage:

    • Global market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Global production, split by region and country
    • Global trade (exports and imports)
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND THE AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and its Prospects

      1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      3. MARKET FORECAST TO 2035

    4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

      Finding New Products to Diversify Your Business

      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCTS
      4. MOST TRADED PRODUCTS
      5. MOST PROFITABLE PRODUCTS FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Export

      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

    8. 8. IMPORTS

      The Largest Import Supplying Countries

      1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

    9. 9. EXPORTS

      The Largest Destinations for Exports

      1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • United States
      • China
      • Japan
      • Germany
      • United Kingdom
      • France
      • Brazil
      • Italy
      • Russian Federation
      • India
      • Canada
      • Australia
      • Republic of Korea
      • Spain
      • Mexico
      • Indonesia
      • Netherlands
      • Turkey
      • Saudi Arabia
      • Switzerland
      • Sweden
      • Nigeria
      • Poland
      • Belgium
      • Argentina
      • Norway
      • Austria
      • Thailand
      • United Arab Emirates
      • Colombia
      • Denmark
      • South Africa
      • Malaysia
      • Israel
      • Singapore
      • Egypt
      • Philippines
      • Finland
      • Chile
      • Ireland
      • Pakistan
      • Greece
      • Portugal
      • Kazakhstan
      • Algeria
      • Czech Republic
      • Qatar
      • Peru
      • Romania
      • Vietnam

    12. LIST OF TABLES

      1. Key Findings In 2024
      2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
      4. Per Capita Consumption, by Country, 2022–2024
      5. Production, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      6. Imports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      7. Imports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      8. Import Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      9. Exports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      10. Exports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      11. Export Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
      3. Consumption, by Country, 2024
      4. Market Volume Forecast to 2035
      5. Market Value Forecast to 2035
      6. Market Size and Growth, By Product
      7. Average Per Capita Consumption, By Product
      8. Exports and Growth, By Product
      9. Export Prices and Growth, By Product
      10. Production Volume and Growth
      11. Exports and Growth
      12. Export Prices and Growth
      13. Market Size and Growth
      14. Per Capita Consumption
      15. Imports and Growth
      16. Import Prices
      17. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      18. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      19. Production, by Country, 2024
      20. Production, In Physical Terms, by Country: Historical Data (2012–2024) and Forecast (2025–2035)
      21. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      22. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      23. Imports, In Physical Terms, By Country, 2024
      24. Imports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      25. Imports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      26. Import Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      27. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      28. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      29. Exports, In Physical Terms, By Country, 2024
      30. Exports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      31. Exports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
      32. Export Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)

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